London Police Seize $6.7 Billion in Bitcoin in World’s Largest Crypto Forfeiture

A Staggering Seizure Rocks the Crypto World

In a case that reads like a blockbuster thriller, London’s Metropolitan Police have executed what they are calling the single largest cryptocurrency seizure in the world. A staggering 61,000 Bitcoin, valued at approximately $6.7 billion, has been confiscated in connection with a global money laundering scheme originating from a massive investment fraud in China.

The operation brings to a dramatic close the activities of Zhimin Qian, a woman who allegedly went by the moniker “the goddess of wealth.” This landmark case not only highlights the colossal sums involved in modern financial crime but also serves as a stark reminder that the perceived anonymity of cryptocurrency is rapidly fading under the sophisticated scrutiny of global law enforcement.

From a Chinese Fraud to a London Property Spree

The story begins with a large-scale investment fraud in China that victimized over 128,000 individuals. Zhimin Qian is accused of masterminding this scheme, amassing a fortune before converting the illicit funds into Bitcoin to obscure their origin. With 61,000 BTC under her control, she fled to the UK in 2017 under a false identity.

Once in London, Qian enlisted the help of an accomplice, Jian Wen, to begin the laundering process. Their strategy was to convert the volatile digital assets into a more stable and traditional store of value: London real estate. The plan involved purchasing multi-million-pound properties, effectively attempting to wash the criminally-obtained crypto and integrate it into the legitimate financial system.

However, their attempts to purchase luxury homes and jewelry raised red flags, triggering a complex and far-reaching investigation by the Met Police.

The Digital Trail: How Investigators Cracked the Case

For years, investigators meticulously followed a digital breadcrumb trail. A key breakthrough came when they traced a cryptocurrency wallet containing 150 Bitcoin (worth over $16 million today) linked to Jian Wen. This discovery was the tip of the iceberg, ultimately leading authorities to the main stash of 61,000 BTC controlled by Qian.

The success of the operation was underpinned by unprecedented international cooperation. The Met Police worked closely with law enforcement agencies in China, demonstrating a unified front against transnational cybercrime.

“Bitcoin and other cryptocurrencies are increasingly being used by organised criminals to disguise and transfer assets, so that fraudsters may enjoy the benefits of their criminal conduct,” said Robin Weyell, a prosecutor for the Crown Prosecution Service (CPS).

Jian Wen was found guilty of money laundering and sentenced in May 2024 to six years and eight months in prison. Zhimin Qian has since pleaded guilty to charges related to the acquisition and possession of criminal property and is currently awaiting sentencing.

Is This Truly the Largest Seizure Ever?

The Met Police have claimed this as the world’s largest cryptocurrency seizure, but the title depends on the metric used: the value at the time of seizure or the sheer number of coins.

• The London Seizure: 61,000 BTC valued at ~$6.7 billion at the time of the announcement.
• The Bitfinex Hack Seizure: In late 2022, the US Department of Justice seized 120,000 BTC stolen from the Bitfinex exchange. At the time, this haul was worth around $4.5 billion.

While the London seizure holds the record for the highest dollar value at the time of forfeiture, the US seizure involved nearly double the number of Bitcoins. Today, that 120,000 BTC would be worth over $13 billion, dwarfing the London haul. Regardless of the rankings, both cases represent monumental victories for law enforcement in the fight against crypto-enabled crime.

A Warning to Crypto Criminals

The successful prosecution and seizure in the case of the <$6.7 Billion in Bitcoin> sends a powerful message to criminals using digital assets to hide their gains. The era of blockchain technology being a lawless frontier is over. As investigative techniques evolve and international partnerships strengthen, the digital walls are closing in.

This case serves as a critical milestone, proving that even the most complex, cross-border crypto laundering schemes can be unraveled, and the perpetrators brought to justice. For the broader crypto community, it underscores the growing maturity of the ecosystem and the increasing importance of regulation and security.